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06 Nov 2006
Barclays has agreed to pay $144m (£76m) to extract itself from an Enron lawsuit.
The energy giant had been claiming that the bank owed it $144m, whilst Barclays claimed Enron owed it $310m. A bankruptcy court will now decide how much, if any of the $310m Barclays is owed, the Guardian reported.
The dispute arose as a result of outstanding transactions at the time of Enron's collapse.
There are separate class action proceedings from Enron shareholders in relation to Barclays too, which have yet to be resolved.
Fastow to detail banks' involvement in Enron
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